Madoff Victims Get $419 Million Payment 10 Years After Arrest

Another batch of compensation checks is in the works for victims of Bernard Madoff on the 10th anniversary of the con man’s arrest in New York following the collapse of his $19 billion Ponzi scheme.

Irving Picard, the trustee unwinding Madoff’s defunct investment advisory firm, said in a statement Dec. 11 that he asked a bankruptcy court judge to authorize $419 million in distributions on approved claims, which will go out to 880 accounts.

That would bring total payouts over the past decade to more than $12 billion. While victims will never recover the $45 billion in fake profits Madoff ...